Agricultural Insurance Revisited: New Developments and Perspectives in Latin America and the Caribbean.
By Mark D. Wenner (10/05, En, Es)
Agriculture is an inherently risky business and the lack of adequate risk management instruments can dampen economic competitiveness, inhibit the use of formal credit, and cause serious welfare losses. At present, the value of agricultural insurance policies and premiums are miniscule shares of the entire insurance market. Nonetheless, there is a growing interest in the topic among politicians and farmers and there have been significant innovations in the last decade. This paper reviews why agricultural insurance is a difficult product to deliver in an efficient and sustainable manner; highlights current trends in the region; and makes recommendations as to how to systematically develop crop insurance markets based on field work, case studies, and promising experiences in other parts of the world.
Last updated: 05/08/07
